Venture lending, or loans offered to start-ups, has attracted growing interest in recent quarters as companies tap the debt market instead of raising equity.
Genesis Alternative Ventures, a private lender to ventures and growth-stage companies, closed its second debt fund at the lower end of its target as global investors remain cautious about Southeast Asia’s start-up industry.
The Singapore-based firm raised US$125 million ($163.14 million) for the fund to finance young companies across Southeast Asia, securing new investors including Japan’s Mizuho Bank and Israel’s OurCrowd. The fund had sought US$120 million to US$180 million, and took more than two years to reach the close.
